The personal representative has the power to purchase an annuity from an insurer admitted to do business in this state to satisfy a devise of an annuity or other direction in the will for periodic payments to a devisee.
Cal. Prob. Code § 10557
Powers Exercisable Without Giving Notice of Proposed Action
Known as the Independent Administration of Estates Act
The act spans §§ 10400–10592 (64 sections).
Enacted by Stats. 1990, Ch. 79.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.